PPG acquire stake in aerospace, automotive sealants businesses Le Joint Francais

PPG to acquire stake in aerospace, automotive sealants businesses of Le Joint Francais

7:31 AM, 31st January 2015
PPG to acquire stake in aerospace, automotive sealants businesses of Le Joint Francais

PITTSBURGH, US: PPG Industries has submitted an offer to acquire a majority interest in the aerospace and automotive sealants businesses of Le Joint Francais (LJF). LJF is a supplier of sealants and adhesives products for the aerospace and automotive industries and has been a long-term licensee of PPG’s aerospace sealant technology.

LJF’s aerospace and automotive sealants businesses would be spun-off to form a new, separate entity, of which PPG would be the majority owner. PPG anticipates closing the transaction in the second half of 2015, following completion of the French works council consultation process, receipt of regulatory approvals and satisfaction of other customary closing conditions. Financial terms were not disclosed.

“This venture is a natural progression for the two companies, as LJF has been a licensee of PPG technology for more than 60 years. This would allow us to serve our aerospace and automotive customers with greater geographic reach and with a wider array of automotive products,” said Michael McGarry, Chief Operating Officer, PPG.

 

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